The initial public offering (IPO) of Rs 130 crore of Hyderabad-based company Hariom Pipe Industries has been closed.
On Tuesday, the last day of the IPO, IPO got 7.93 times subscription due to strong support from retail investors. According to the data available on the website of the National Stock Exchange (NSE), bids for 6.74 crore shares have been received against the offer of 85 lakh shares of the company. It sits at 7.93 times. The retail portion of the IPO got the highest subscription at 12.15 times.
Hariom Pipe Industries has fixed the price range for the IPO at Rs 144-153 per share. At the upper end of the price range, the IPO will garner Rs 130 crore. The company’s IPO opened on March 30 and closed on April 5.
The allotment of shares of the IPO will take place on April 8 and those who do not get the shares, the refund will start from April 11. It is estimated that the listing of Hariom Pipes’ stock may happen on April 13.